The Data Trade & its Extinction Event, with Gilbert Hill of TapMyData

TL;DR

Tap My Data is a mobile app that allows individuals to exercise their digital rights and gives businesses the ability to manage data transfers, location check-ins, and requests securely. The company aims to empower individuals to own their digital identity and help businesses rebuild trust through privacy by design and blockchain.

Transcript

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Key Insights

• 🥳 The data trade, especially in third-party data, is facing an extinction level event due to regulatory actions and a growing demand for privacy protection.
• ⚾ Companies need to transition from compliance-based approaches to data management to establishing trust-based relationships with individuals.
• 🎮 Offering individuals the ability to control and monetize their data can revolutionize the data economy.
• ❓ The emergence of decentralized data marketplaces and blockchain technology provides opportunities for secure and transparent data transactions.
• 🉐 Data rights are becoming increasingly important, and businesses that prioritize data privacy and ownership will gain a competitive advantage.
• 🗯️ Educating citizens about the trust economy and their data rights is a crucial step in building a new data ecosystem.
• 😀 Tap My Data's mobile app empowers individuals and businesses to engage in secure data dialogue, leading to the establishment of trust and privacy by design.

Questions & Answers

Q: What is Tap My Data's main focus in the emerging trust economy?

Tap My Data aims to empower individuals to take control of their digital rights and help businesses rebuild trust through privacy by design and secure data transactions.

Q: How does Tap My Data's mobile app work?

The app allows individuals to manage data transfers, location check-ins, and requests securely, giving them agency over their personal information. It also enables businesses to engage in secure data dialogue with their customers.

Q: How does Tap My Data address data compliance challenges?

Tap My Data ensures compliance by prioritizing data privacy and using blockchain technology to facilitate secure data transactions. The company focuses on a need-to-know approach to data, giving individuals visibility and control over their information.

Q: What is the future of the data economy according to Tap My Data?

Tap My Data envisions a new trust economy where individuals can monetize their data and have transparency into how it is being used. The company believes that decentralized data marketplaces and blockchain technology will play a crucial role in reshaping the data economy.

Summary & Key Takeaways

• Tap My Data is focused on building tools for the new trust economy, which emphasizes privacy and data ownership.

• The company's mobile app allows individuals to control their digital rights and engage in secure data dialogue with businesses.

• Tap My Data aims to enable individuals and companies to rebuild trust and establish secure data transactions in a compliant manner.